Shattuck Labs (NASDAQ:STTK) Stock Rating Upgraded by TD Cowen

Key Points

• TD Cowen upgraded Shattuck Labs to “strong buy,” adding to broadly positive analyst sentiment. The stock carries an average “buy” rating and a consensus price target of $12.78.
• Shattuck Labs opened at $7.90, near its 52-week high of $8.33, with a market capitalization of approximately $793 million. The company reported quarterly EPS of $(0.12), in line with analyst expectations.
• Institutional investors own 58.74% of the company, while insiders own 8.79%; insiders sold 53,875 shares worth roughly $379,000 over the past 90 days, primarily to cover tax obligations from equity awards.

Shattuck Labs (NASDAQ:STTK - Get Free Report) was upgraded by TD Cowen to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

STTK has been the topic of several other reports. Wedbush lifted their price objective on shares of Shattuck Labs from $8.00 to $11.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Jefferies Financial Group upgraded Shattuck Labs to an "outperform" rating and set a $7.00 target price for the company in a report on Friday, June 5th. Needham & Company LLC increased their target price on Shattuck Labs from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, June 8th. Raymond James Financial began coverage on Shattuck Labs in a research report on Monday. They set a "strong-buy" rating and a $18.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on Shattuck Labs in a report on Monday, April 27th. They issued an "overweight" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $12.78.

Shattuck Labs Price Performance

NASDAQ:STTK opened at $7.90 on Monday. Shattuck Labs has a 1-year low of $0.92 and a 1-year high of $8.33. The company has a 50-day moving average of $6.81 and a 200 day moving average of $6.12. The firm has a market cap of $792.84 million, a PE ratio of -15.49 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, meeting analysts' consensus estimates of ($0.12). Sell-side analysts anticipate that Shattuck Labs will post -0.43 EPS for the current fiscal year.

Insider Transactions at Shattuck Labs

In related news, insider Abhinav A. Shukla sold 23,365 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the transaction, the insider directly owned 86,380 shares of the company's stock, valued at $611,570.40. This trade represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Arundathy N. Pandite sold 30,000 shares of Shattuck Labs stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.01, for a total transaction of $210,300.00. Following the completion of the sale, the insider owned 136,219 shares of the company's stock, valued at $954,895.19. This trade represents a 18.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 53,875 shares of company stock worth $379,305. Insiders own 8.79% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in STTK. Orbimed Advisors LLC acquired a new position in shares of Shattuck Labs in the 3rd quarter valued at $15,072,000. BlackRock Inc. acquired a new stake in Shattuck Labs during the 2nd quarter worth about $27,315,000. Frazier Life Sciences Management L.P. acquired a new stake in Shattuck Labs during the 2nd quarter worth about $26,025,000. NEXTBio Capital Management LP purchased a new stake in Shattuck Labs during the 4th quarter valued at about $11,497,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Shattuck Labs during the 4th quarter valued at about $7,031,000. Hedge funds and other institutional investors own 58.74% of the company's stock.

Shattuck Labs Company Profile

Shattuck Labs, Inc NASDAQ: STTK is a clinical‐stage biotechnology company headquartered in Cambridge, Massachusetts. The company is focused on developing immunotherapeutic vaccines to prevent and treat substance use disorders, with an initial emphasis on opioids. Shattuck Labs employs a proprietary hapten‐carrier conjugate technology designed to generate high‐affinity drug‐specific antibodies that sequester target molecules in the bloodstream and reduce their passage across the blood‐brain barrier.

The company's lead program targets fentanyl, a synthetic opioid responsible for a significant proportion of overdose fatalities.

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